(S&P Global Platts, 15.Aug.2019) — The US is set to impose sanctions on Rosneft if it continues to trade crude oil and fuel with Venezuela’s PDVSA in exchange for debt […]
Author: ENERGY ANALYTICS INSTITUTE (EAI)
Energy Analytics Institute (EAI), formerly LatinPetroleum.com, is a Houston-established private organization with a satellite presence in Calgary, Mexico City and Venezuela where it operates under Editores LatinPetroleum SA. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.
Venezuela’s Congress To Consider Scaled-back Reform
(Reuters, By Luc Cohen, 15.Aug.2019) — Venezuela’s opposition-controlled congress is considering reforms to the country’s oil law that would open up the sector to private investment but are scaled back […]
Petrobras Updates On CDB Debt Pre-Payment
(Petrobras, 14.Aug.2019) — Petrobras reports that today it fully prepaid a financing contract with China Development Bank (CBD) due in 2024, totaling US$ 3 billion. The company also notified CBD […]
Citgo Petroleum Corp. Names Carlos E. Jorda As CEO
(Citgo, 14.Aug.2019) — The Board of Directors of Citgo Petroleum Corporation has selected Carlos E. Jorda to occupy the Chief Executive Officer (CEO) position after a thorough and extensive search […]
Petrobras Clarifies About Fertilizer Divestments
(Petrobras, 14.Aug.2019) — Petrobras clarifies, in relation to news disclosed by the media, that the values related to the sale of the Nitrogen Fertilizer Unit III (UFN-III) are not correct. […]
Petrobras Promotes Advances In Governance
(Petrobras, 14.Aug.2019) — Petrobras informs that it continuously improves its governance system, in compliance with the best market practices, with the objective of strengthening internal controls and the efficiency of […]
PDVSA Partners Fear Latest U.S. Sanctions: Sources
(Reuters, Luc Cohen, 14.Aug.2019) — Foreign joint venture partners with Venezuelan state-owned oil company PDVSA are concerned the latest set of U.S. sanctions on the South American country could disrupt […]
Petrobras Confirms CAPEX For 2019-2023 Set At $84.1bn
(Petrobras, 14.Aug.2019) — Petrobras reports it has received the Official Letter No. 713/2019-SLS, which requests the following clarification: Official Letter nº 713/2019-SLS “Dear Gentlemen, In a news report published by […]
Rosneft Seeks Euros Payment In Naphtha Tender
(Reuters, 14.Aug.2019) — Russian state oil company Rosneft has for the first time asked buyers to use the euro as the default currency in a spot tender to sell naphtha, […]
Guaido Names Execs To Debt Renegotiating Commission
(Energy Analytics Institute, Jared Yamin, 13.Aug.2019) — Venezuela’s National Assembly leader Juan Guaido announced creation of a special commission dedicated to renegotiating the OPEC country’s public debt, the assembly reported […]
Petrobras Says 20+ Groups Interested In Refineries
(Reuters, 13.Aug.2019) — More than 20 potential bidders are interested in the refineries that Brazil’s state-controlled oil company Petroleo Brasileiro SA plans to sell, the company’s chief executive officer said […]
Citgo To Name New CEO
(Reuters, Marianna Parraga, 13.Aug.2019) — Citgo Petroleum Corp has selected Carlos Jorda as its next chief executive, according to three people familiar with the matter, turning to a seasoned refinery […]
Ecopetrol Group Announces Second Quarter 2019 Results
(Ecopetrol 12.Aug.2019) — Ecopetrol S.A. announced the Ecopetrol Group’s financial results for the second quarter of 2019, prepared in accordance with International Financial Reporting Standards applicable in Colombia. In words […]
Argentina’s Opposition Primary Win May Put Energy Investment On Hold
(S&P Global Platts, 12.Aug.2019) — Argentina’s leading opposition coalition, a left-wing populist alliance that ruled the country from 2003-15, swept the national primaries Sunday, putting it in the running to […]
Tullow Says Jethro-1 Well Finds 55M Of Net Oil Pay Offshore Guyana
(Tullow, 12.Aug.2019) — Tullow Oil plc announces the results of its Jethro-1 exploration well, drilled on the Orinduik licence offshore Guyana by its wholly owned subsidiary Tullow Guyana B.V. The […]
Jethro-1 Delivers The Goods For Tullow Offshore Guyana
(WoodMac, 12.Aug.2019) — The Jethro-1 well, drilled in the Orinduik block, offshore Guyana, has delivered for Tullow Oil, with chief executive Paul McDade saying the prospect could hold more than […]
How Trinidad Benefits From Venezuelan Crisis
(Oxford Business Group, 10.Aug.2019) — In June the UN estimated that 4m people had fled Venezuela as a result of the crisis. Of these, some 40,000 have arrived in T&T. […]
Petrobras Signs COMPERJ Licensing Agreement
(Petrobras, 9.Aug.2019) — Petrobras informs signed a Conduct Adjustment Agreement in the amount of R$ 814.5 million with the State of Rio de Janeiro, the Public Prosecution Office of Rio […]
Petrobras Inks Deal For Sale Of Potiguar Basin Fields
(Petrobras, 9.Aug.2019) — Petrobras reports that today it signed with SPE 3R Petroleum S.A., a wholly owned subsidiary of 3R Petroleum e Participações S.A., a contract for the sale of […]
Petrobras Delists Shares From Argentine Exchange
(Petrobras, 9.Aug.2019) — Petrobras announces that its General Shareholders’ Meeting approved today the delisting of its common and preferred shares from Bolsas y Mercados Argentinos (BYMA) and the withdrawal from […]
Petrobras Inks Deal To Divest Interest In Belem Bioenergia Brasil
(Petrobras, 8.Aug.2019) — Petrobras reports that its subsidiary Petrobras BiocombustÃveis S.A. (PBIO) signed today a contract to sell its 50% stake in Belem Bioenergia Brasil (BBB) to Galp Bioenergy B.V., […]
BHP To Invest $283mn In Trinidad Project
(Reuters, 7.Aug.2019) — Global miner BHP Group said it has approved an investment of $283 million to fund the development of an oil and gas project in Trinidad and Tobago. […]
Data Consortiums Signal The Future Of Oil And Gas
(WoodMac, 7.Aug.2019) — The energy industry has a data problem: Every major exploration and production company collects petabytes of data, but their analysis is limited to their own petabytes. Companies […]
BHP To Invest $283mn In Trinidad Project
(Reuters, 7.Aug.2019) — Global miner BHP Group said on Thursday it has approved an investment of $283 million to fund the development of an oil and gas project in Trinidad […]
Brazil Market Reform Unlocks Investments
(WoodMac, 6.Aug.2019) — Brazil’s natural gas market reforms have taken a major step forward, with plans in place which are set to open up opportunities across the gas value chain, […]
Codelco Sells 37% Stake In Natgas Plant For $193.5mn
(Reuters, 6.Aug.2019) — Chile’s Codelco, the world’s No. 1 copper producer, said on Tuesday it sold its stake in the GNL Mejillones natural gas plant in the northern part of […]
U.S. Expands Sanctions Against Venezuela
(WSJ, Vivian Salama, 6.Aug.2019) — The Trump administration imposed a total economic embargo against the government of Venezuela, a significant escalation of pressure against the regime of President Nicolás Maduro […]
Trump Imposes New Curbs In Bid To Pressure Maduro
(Bloomberg, 6.Aug.2019) — President Donald Trump imposed further sanctions on Venezuela, freezing the government’s assets in the U.S. and adding immigration restrictions in a move aimed at stepping up pressure […]
US Escalates Venezuela Sanctions
(Platts, 6.Aug.2019) — The US escalated sanctions against Venezuela late Monday and may use the executive order to target crude flows to China and India, analysts said Tuesday. Highlights Analysts […]
Pre-salt E&P May See Spending Boost
(WoodMac, 6.Aug.2019) — Brazil’s natural gas market reforms have taken a major step forward, with plans in place which are set to open up opportunities across the gas value chain, […]
Canadian Solar Energizes Solar Plant In Argentina
(Canadian Solar, 5.Aug.2019) — Canadian Solar Inc. announced its 100.1 MWp Cafayate solar power project in Argentina started commercial operation on July 19, 2019. It is now the largest operational […]
IEnova Suspends CFE Deal Related To El Oro Pipeline
(IEnova, 5.Aug.2019) — Infraestructura Energética Nova, S.A.B. de C.V., (IEnova), reports that, within the framework of the Negotiation Rounds convened by the Federal Government related to the Natural Gas Pipeline […]
Petrobras Starts Phase To Sale EspÃrito Santo Assets
(Petrobras, 5.Aug.2019) — Petrobras, following up on the release dated 07/05/2019, informs the beginning of the binding phase related to the sale of all its stakes in the Peroá and […]
Qatar Petroleum In Guyana Exploration Deal
(Trade Arabia, 5.Aug.2019) — Qatar Petroleum has entered into an agreement with French oil major Total for a share of exploration and production rights in two blocks offshore Guyana in […]
Brazil To Reduce Natgas Imports From Bolivia
(Merco Press, 5.Aug.2019) — The Brazilian oil company Petrobras has announced that in the coming months it will reduce its imports of Bolivian natural gas, which it still considers to […]
The ‘Citgo 6’ Remain Imprisoned In Venezuela
(Oilprice.com, Tsvetana Paraskova, 5.Aug.2019) — Six U.S. executives at Citgo, the U.S. subsidiary of Venezuela’s state-held oil firm PDVSA, were detained by Nicolas Maduro’s regime in Venezuela in November 2017 […]
Petrobras Approves Revision Of LPG Pricing Policy
(Petrobras, 5.Aug.2019) — Petrobras reports that its Executive Board has approved revision of its LPG pricing policy for residential use, sold for bottling in cylinders of up to 13 kg, […]
Trump Freezes All Venezuelan Govt Assets
(Reuters, Matt Spetalnick and Roberta Rampton, 5.Aug.2019) — U.S. President Donald Trump imposed a freeze on all Venezuelan government assets in the United States on Monday, sharply escalating an economic […]
Guaido Govt Authorized To Pick Citgo BODs, Court Says
(Energy Analytics Institute, Piero Stewart, 5.Aug.2019) — Court says National Assembly leader Juan Guaido authorized to appoint the directors of Houston-based refiner Citgo Petroleum, company spokesperson says. “Today’s decision is […]
Brazil Sees Oil Output Shrink Over Three Months
(The Rio Times, Richard Mann, 3.Aug.2019) — Oil production in the country dropped 6.4 percent from May to June after rising in the first months of the current year. According […]
Citgo Petroleum Hails Legal Victory
(Citgo, 2.Aug.2019) — A Delaware court affirmed the authority of the Guaido Government to make appointments to the Citgo Petroleum Corporation Board of Directors (in Jiménez et al. v. Palacios et […]
Petrobras Gets R$1.275bn Advance From Eletrobras
(Petrobras, 2.Aug.2019) — Petrobras informs that today Centrais Elétricas Brasileiras S.A. – Eletrobras settled in advance R$ 1.275 billion of the outstanding balance of the Debt Assumption Agreement signed on […]
Frontera Reports Approval For Guyana Resequencing
(Frontera, 2.Aug.2019) — Frontera Energy Corporation said a resequencing of CGX Energy Inc.’s work programme in the Corentyne block, offshore Guyana, held by its wholly owned subsidiary, CGX Resources Inc., […]
LatAmNRG Briefs and Heard On the Street: Guyana, Venezuela, Chile, Peru
(Energy Analytics Institute, Jared Yamin and Piero Stewart, 2.Aug.2019) — LatAmNRG briefs and heard on the street related to Sempra Energy’s divestments in South America, Tullow Oil plc’s three well […]
Petrobras Reports Production Boost
(Reuters, Gram Slattery and Marta Nogueira, 2.Aug.2019) — Brazilian state-run oil company Petroleo Brasileiro SA, or Petrobras, posted a long-awaited production boost in July after a disappointing June, as it […]
Mexican Lawsuit Risks Permian Route To Market
(Petroleum Economist, Charles Waine, 2.Aug.2019) — Mexico’s Comisión Federal de Electridad (CFE), the state-owned electricity utility, has started legal proceedings against seven natural gas pipelines. The move intensifies fears about […]
Citgo Holding, Inc. Refinances $1.87bn Debt
(Citgo, 1.Aug.2019) — CITGO Holding, Inc., parent company of CITGO Petroleum Corporation (CPC), confirmed it has completed its previously announced refinancing transactions to redeem and pay-off $1.870 billion of its […]
Frontera Energy Announces Strong 2Q:19 Results
(Frontera, 1.Aug.2019) — Frontera Energy Corporation announces release of its Interim Condensed Consolidated Financial Statements for the second quarter of 2019, together with its Management, Discussion and Analysis (“MD&A”). These […]
Frontera Announces 2Q:19 Conference Call Details
(Frontera, 1.Aug.2019) — Frontera Energy Corporation announces a conference call for investors and analysts will be held on Friday, August 2, 2019 at 8:00 a.m. (MDT), 9:00 a.m. (GMT-5) and […]
Venezuela Oil Exports Slid 17.5% In July-Data
(Reuters, Marianna Parraga, 1.Aug.2019) — Venezuela’s oil exports fell 17.5% in July to their second-lowest level since Washington imposed sanctions on the nation as state-run PDVSA finds fewer customers to […]